Messaging app LINE to invest in two VC funds

September 30, 2016

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Tokyo, Japan | Limited Partner

The board of directors of LINE (NYSE: LN), a calling and messaging app operating in Japan, has passed a resolution to invest in DAG Ventures and K-Fund I, a vehicle operated by Korelya Capital. The investment in K-Fund 1 will be a joint initiative conducted with NAVER, the parent company of LINE, with the companies investing €50 million each for a total of €100 million. LINE went public earlier this year, raising a more than $1.1 billion in listings on the NYSE and in Tokyo (TKO: 3938).